Full-service broking, investment-banking and wealth/product-distribution firm (formerly IIFL Securities)
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 631 | +2.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 36.0 | 0.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 184 | +4.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 20.46 | −14.4 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -37.32 | −73.9 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 2.14 | −14.1 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Guidance
0 of 4 judged targets kept · 5 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Wealth Management AUM | roughly close to about Rs. 800 crores -Rs. 900 crores of assets under management and this we think should easily double in the next one year. | Q4 FY25 | Deadline passed in Q4 FY26. Promise remains missed. | Missed |
| Overall Business Growth | So, I think we have enough to grow in the next by 20% in the next. | Q4 FY26 | Consolidated operational revenue was flat YoY at INR 631 crores, not showing progress towards the 20% growth target. | At Risk |
| Wealth Management Profitability | over the next maybe two years to three years, this business will become profitable. | Q2 FY26 | No direct update on profitability. FPD income, which includes wealth, declined 31% QoQ and 14% YoY, attributed to seasonality. Strategic focus on growing AIF/PMS continues. | On Track |
4 of IIFL Capital Services Limited's 9 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 6 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹358.4 on 24 Oct 2025 → ₹340.75. High ₹395.5 (7 Jan 2026), low ₹244.15 (30 Mar 2026).
Overview
Based on the company's own presentations, annual report and earnings calls.
IIFL Capital Services is a full-service financial-services group built around three linked businesses: retail equity broking (including margin trade financing), institutional equities broking and investment banking (equity capital markets, M&A/advisory), and wealth management with distribution of third-party financial products (mutual funds, bonds, insurance, PMS, AIFs) to retail, HNI/UHNI and institutional clients. It earns primarily through brokerage on client trading volumes, investment-banking fees on capital-markets transactions, and distribution/trail commissions on financial products sold through its own relationship managers and a network of external wealth managers. It also holds company real estate that generates a small rental income stream.
Segments
close before → close after
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Guidance
0 of 4 judged targets kept · 5 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Wealth Management AUM | roughly close to about Rs. 800 crores -Rs. 900 crores of assets under management and this we think should easily double in the next one year. | Q4 FY25 | Deadline passed in Q4 FY26. Promise remains missed. | Missed |
| Overall Business Growth | So, I think we have enough to grow in the next by 20% in the next. | Q4 FY26 | Consolidated operational revenue was flat YoY at INR 631 crores, not showing progress towards the 20% growth target. | At Risk |
| Wealth Management Profitability | over the next maybe two years to three years, this business will become profitable. | Q2 FY26 | No direct update on profitability. FPD income, which includes wealth, declined 31% QoQ and 14% YoY, attributed to seasonality. Strategic focus on growing AIF/PMS continues. | On Track |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 9 tracked commitments, with each call’s wording and source.
Call summaries
IIFL Capital Services Limited Q1 FY27
IIFL Capital Services Limited reported a flat consolidated operational revenue of INR631 crores for Q1 FY27. While institutional and investment banking showed strong QoQ growth, financial product distribution income saw a significant decline. The company provided an update on the pending INR2,000 crores Fairfax investment, which is awaiting regulatory approvals, and addressed an income tax demand of INR124 crores.
Read the full callIIFL Capital Q4 FY26
IIFL Capital reported a mixed Q4 FY26 and full year FY26. While Q4 saw strong operational revenue growth of 20% YoY and a 21% QoQ increase in operational PBT, full-year operational revenue remained flat. Retail equity revenues declined 9% YoY due to regulatory changes, and employee and finance costs rose significantly. The company highlighted robust growth in FPD AUM and expressed confidence in its capital adequacy to achieve 20% growth in the coming years, despite facing macroeconomic volatility and an income tax notice.
Read the full callIIFL Capital Q3 FY26
IIFL Capital reported flat consolidated operational revenues of INR 586 crores for Q3 FY26. While Retail Broking and Financial Product Distribution segments showed growth, Institutional and Investment Banking revenues declined. Operational PBT was significantly impacted by rising employee and administrative costs, decreasing 27% QoQ and 36% YoY to INR 119 crores. The company also disclosed an ongoing Income Tax assessment, having paid INR 27 crores ad hoc taxes, but believes there will be no material adverse effect.
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
Net profit, year on year: +5% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 645 | 583 | 537 | 617 | 572 | 586 | 644 | 631 |
| Expenses | 379 | 337 | 351 | 396 | 359 | 396 | 421 | 406 |
| Operating profit | 266 | 245 | 186 | 221 | 213 | 190 | 224 | 226 |
| Operating margin | 41.0% | 42.0% | 35.0% | 36.0% | 37.0% | 32.0% | 35.0% | 36.0% |
| Other income | 58 | 64 | 36 | 63 | -25 | 134 | 10 | 90 |
| Interest | 48 | 45 | 43 | 40 | 53 | 53 | 63 | 60 |
| Depreciation | 13 | 14 | 16 | 16 | 15 | 17 | 17 | 17 |
| Profit before tax | 264 | 250 | 163 | 228 | 120 | 254 | 155 | 239 |
| Tax rate | 22.0% | 21.0% | 22.0% | 23.0% | 29.0% | 26.0% | 26.0% | 23.0% |
| Net profit | 205 | 197 | 128 | 176 | 85 | 188 | 115 | 184 |
| EPS (₹ per share) | 6.64 | 6.36 | 4.13 | 5.66 | 2.72 | 6.01 | 3.68 | 5.87 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 1,353 | 2,161 | 2,405 | 2,419 |
| Expenses | 886 | 1,287 | 1,407 | 1,572 |
| Operating profit | 465 | 874 | 997 | 848 |
| Other income | 18 | 70 | 162 | 182 |
| Interest | 75 | 148 | 180 | 209 |
| Depreciation | 67 | 113 | 55 | 65 |
| Profit before tax | 340 | 682 | 925 | 757 |
| Net profit | 249 | 515 | 712 | 564 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 61 | 61 | 62 | 62 | 62 | 62 |
| Reserves | 1,121 | 1,289 | 1,725 | 2,445 | 2,749 | 3,003 |
| Borrowings | 607 | 486 | 1,154 | 937 | 1,742 | 1,821 |
| Other liabilities | 4,252 | 3,401 | 4,934 | 4,511 | 4,538 | 4,671 |
| Total liabilities | 6,041 | 5,237 | 7,875 | 7,956 | 9,091 | 9,558 |
| Fixed assets | 482 | 440 | 379 | 388 | 284 | 295 |
| Capital work in progress | 3 | 1 | 1 | 2 | 3 | 1 |
| Investments | 228 | 90 | 159 | 486 | 580 | 390 |
| Other assets | 5,329 | 4,707 | 7,335 | 7,080 | 8,224 | 8,872 |
| Total assets | 6,041 | 5,237 | 7,875 | 7,956 | 9,091 | 9,558 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 152 | 795 | -793 | -118 | 871 | -1,070 |
| Cash from investing | 148 | -86 | 163 | -74 | -177 | 314 |
| Cash from financing | -361 | 108 | -296 | 430 | -490 | 568 |
| Net cash flow | -62 | 817 | -925 | 239 | 204 | -187 |
| Free cash flow | 89 | 822 | -798 | -138 | 922 | -936 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 15 | 8 | 6 | 8 | 7 | 9 |
| Cash conversion cycle | 15 | 8 | 6 | 8 | 7 | 9 |
| Working capital days | -498 | -891 | -551 | -497 | -346 | -339 |
| Return on capital employed | 25.0% | 32.0% | 23.0% | 35.0% | 33.0% | 21.0% |
| Dividend payout | 14.0% | 30.0% | 37.0% | 18.0% | 13.0% | 17.0% |
Ownership
Public hold 49.27% as of Sept 2026; institutions added 0.19 pts since Jun 2026.
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
The same filing shows 2 holders trimming and 0 off the list — both are in the register beside this.
Named in the Sep 2026 filing
Every holder of IIFL Capital Services Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 26.84% | −0.16 pp | |
| 14.89% | −0.09 pp | |
| FPI fund | 3.99% | unchanged |
| 3.83% | unchanged | |
| 3.55% | unchanged | |
| FPI fund | 3.29% | unchanged |
| 3.17% | unchanged | |
| 2.85% | unchanged | |
| FPI fund | 1.72% | unchanged |
| 1.27% | unchanged | |
| AIF | 1.24% | unchanged |
| 1.14% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Your own record
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